The Organisation for Economic Co-operation and Development (OECD) has removed all countries from its tax haven blacklist.
Published last week, the blacklist included Costa Rica, Malaysia, the Philippines and Uruguay, described as jurisdictions which have made no commitment to the global standard for tax co-operation and exchange of information.
However, OECD chief, Angel Gurria, says all four countries have now agreed to adopt its regulations.
The list was part of efforts agreed at the G20 summit to clamp down on non-cooperative tax havens.
"I'm pleased to say that those four jurisdictions have now made a full commitment to exchange information to the OECD standards," says Gurria.
Consequently, none of the 84 countries and territories monitored by the OECD will be on the blacklist, he adds.
Last week, the G20 leaders agreed to take sanctions against tax havens, using the OECD list as its basis.
While Uruguay protested it had been wrongly included on the OECD blacklist and agreed to sign up to tax transparency rules, the Philippines and Malaysia also say they are talking to OECD to remove themselves from the list.
Meanwhile, the US Treasury says it has begun negotiations with Switzerland to amend the bilateral tax treaty between the two countries, signed in 1996. Switzerland agreed to ease banking secrecy and adopt OECD tax standards last month.IFAonline
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